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Hasina looks East

Harun ur Rashid
The basic course of Bangladesh's relationship with South Korea has been firmly set and will continue for further expansion. The prime minister's visit, although a brief one, is a gesture of friendship and will consolidate further bilateral relations for mutual benefit of peoples of both countries.
PRIME Minister Sheikh Hasina's scheduled three-day official visit to the Republic of Korea (South Korea) commences on May 16. This will be the first visit by a Bangladeshi prime minister to South Korea in 15 years.
It is reported the PM and South Korean President Lee Myung-bak will hold crucial talks on expanding Dhaka-Seoul cooperation in varied fields including investment and infrastructure development to shipbuilding and transfer of green technology to environment. It is reported Dhaka and Seoul are likely to sign three agreements on manpower, IT and energy during the visit.
The relations between the two nations are excellent and have been strengthened by high-level visits between the two countries. South Korea's prime minister visited
Bangladesh in September 1994, and the then prime minister Kim Suk-soo visited Bangladesh in November 2002. Several high officials of Bangladesh, including ministers, also visited South Korea.
Currently, South Korea's profile has been raised in many ways. First, it is the host of a G-20 meeting in November this year. Second, it has signed a Free Trade Agreement with the European Union and its economy is gradually being integrated with EU's economy. Third, the current Secretary General of the UN is a South Korean national.
South Korea, with a per capita income of about $28,000, is one of Asia's economic tigers. With the restoration of its economy after the global recession, it has both confidence and money to make its own mark. Aidhasbeensteppedupin Asia, in particular to Asean.
Since 1973, Bangladesh and South Korea have concluded eight agreements, which include trade and economic cooperation, cultural exchanges, promotion and protection of investments, and scientific and technological cooperation.
South Korea has been a significant development partner in Bangladesh, and many infrastructure have been built by South Korean contractors. South Korea's official assistance, as of 2008, amounted to $340 million to be spent on infrastructure development in railways, telecommunication, Sylhet transmission lines and e-government infra-networking sectors. Bangladesh is the second largest recipient country among 45 countries.
By 2009, South Korea had provided $30 million as grant. South Korean aid is directed toward education, health, ICT, rural development and governance sectors. South Korea donated $500,000 in the preparation of electoral roll for the country’s parliamentary election in 2008.
Trade between the two has been growing, and light electronic goods and computers from South Korea are making inroads into the Bangladeshi markets. South Korean cars are also making their presence felt in Bangladesh
Bangladesh's exports to South Korea during 2007-08 amounted to $169 million, and included raw jute, jute products, jute
yarn, newsprint, tea, leather goods, tobacco and fertiliser, while South Korea's exports to Bangladesh during that period stood at $1,095 million, which included chemicals, dyeing materials, tanning, medical and pharmaceutical products, iron and steel, electrical goods and motor vehicle machinery.
South Korea has reportedly invested $1,006 million in Bangladesh in various sectors, such as ready-made garments, textiles, tanning and shoe factories. Many joint ventures in Bangladesh's Export Processing Zones (EPZ) have beensetupby Korean investors. South Korea is reportedly the largest foreign investor in the EPZs, employing nearly 100,000 Bangladeshi workers. It might increase to 350,000 with the present continuing investment..
In 2008, South Korea opened 75 percent of total tariffs for Bangladesh. In 2009, the coverage was expanded to 80 percent with the addition of 253 products. In 2010, an additional 5 percent will be added so that more Bangladeshi items can enjoy the benefit.
Apart from economic cooperation, Korean painters and art connoisseurs have expressed keenness in Bangladeshi art and culture by their frequent participation in the Asian Biennale held in Dhaka. A Korean painting exhibition took place in 2008 in Bangladesh.
In May2009, the Bangladesh Embassy in South Korea and Korean Foundation jointly organised an exhibition of eleven Bangladeshi painters at the Korea Foundation Cultural Centre. The exhibition displayed around 100 paintings by eleven renowned Bangladeshi artists.
The exhibition introduced the best of contemporary Bangladeshi art to Korean enthusiasts. It featured abstract, semi-realistic, semi-abstract and folk-themed paintings. All participating artists also had solo and group exhibitions in the country and abroad.
Perhaps the most encouraging development in bilateral relations is the growing relationship between the private sectors of the two countries. South Korea's investment and business opportunities in Bangladesh are on the increase.
The basic course of Bangladesh's relationship with South Korea has been firmly set and will continue for further expansion. The prime minister's visit, although a brief one, is a gesture of friendship and will consolidate further bilateral relations for mutual benefit of peoples of both countries.
Barrister Harun ur Rashid is a former Bangladesh Ambassador to the UN, Geneva.